Baqar HussainOnline retailer will allow people to spread payments of items over four years
The US giant, led by founder Jeff Bezos, will offer loans of up to four years for orders totalling more than £400, subject to a credit check.
Amazon Pay Monthly charges an interest rate of 16.9pc but no deposit is required. The scheme is run in conjunction with Hitachi Capital, which offers a similar service to John Lewis.
“The new Amazon Pay Monthly programme provides our customers with further payment options to suit their needs when shopping on our website, and it is easy, convenient and offers competitive rates and flexible terms,” Amazon told The Guardian, which first reported the launch.
It comes after the world’s largest online retailer revealed it would expand the range of its UK delivery service for households goods and groceries to take on the “Big Four” supermarkets.
The group’s Pantry service – which was launched in Britain in November – will be beefed up in 2016, adding new product lines, according to Christopher North, Amazon’s British boss.
Syed Zaki Hussain
